Unitedhealth (UNH) Operating Margin (2009 - 2026)
Unitedhealth (UNH) reported Operating Margin of 8.05% for Q1 2026, down 28.0% year-over-year from 11.18% in Q1 2025, and up 2297.43% quarter-over-quarter from 0.34% in Q4 2025.
Unitedhealth (UNH) Operating Margin (2009 - 2026) Analysis & Trends
Unitedhealth (UNH) has 18 years of Operating Margin data on file, last reported at 8.05% in Q1 2026.
- Operating Margin for Q1 2026 came in at 8.05%, down 28.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 4.42% (down 259.0% YoY), and the FY2025 annual result was 4.24%, down 383.0% from the prior year.
- Operating Margin improved to 8.05% in Q1 2026 per UNH's latest filing, from 0.34% in the prior quarter.
- Over five years, Operating Margin peaked at 56.4% in Q4 2023 and troughed at 0.34% in Q4 2025.
- A 5-year average of 10.58% and a median of 8.64% in 2024 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2023 and 2024: Operating Margin soared 5117 bps in 2023, then tumbled 5178 bps in 2024.
- A 5-year view of Operating Margin shows it stood at 5.23% in 2022, then soared by 978 bps to 56.4% in 2023, then tumbled by 92 bps to 4.63% in 2024, then plunged by 93 bps to 0.34% in 2025, then jumped by 2297 bps to 8.05% in 2026.
- Business Quant data shows UNH's Operating Margin at 8.05% in Q1 2026, 0.34% in Q4 2025, and 3.81% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 363.95 Bn | 334.15 Bn | 98.90 Bn | 8.05% |
| 2 | Cvs Health | 124.98 Bn | 113.36 Bn | 4.43 Bn | 13.85% |
| 3 | Elevance Health | 85.46 Bn | 50.04 Bn | 13.88 Bn | 1.55% |
| 4 | Cigna | 73.39 Bn | 65.77 Bn | -44.29 Bn | 2.06% |
| 5 | Humana | 43.40 Bn | 21.50 Bn | 4.00 Bn | 4.65% |
| 6 | Centene | 30.02 Bn | 6.36 Bn | 49.24 Bn | 3.73% |
| 7 | Molina Healthcare | 9.92 Bn | 668.90 Mn | 1.53 Bn | 0.77% |
| 8 | Oscar Health | 8.44 Bn | 1.64 Bn | -3.22 Bn | 1,060.06% |
| 9 | Alignment Healthcare | 4.50 Bn | 3.77 Bn | 135.85 Mn | 1.26% |
| 10 | Clover Health Investments | 2.61 Bn | 2.41 Bn | 154.54 Mn | 3.67% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 8.05% |
| Dec 31, 2025 | 0.34% |
| Sep 30, 2025 | 3.81% |
| Jun 30, 2025 | 5.86% |
| Mar 31, 2025 | 8.32% |
| Dec 31, 2024 | 4.63% |
| Sep 30, 2024 | 8.64% |
| Jun 30, 2024 | 7.97% |
| Mar 31, 2024 | 10.17% |
| Dec 31, 2023 | 56.40% |
| Sep 30, 2023 | 9.23% |
| Jun 30, 2023 | 11.12% |
| Mar 31, 2023 | 11.11% |
| Dec 31, 2022 | 5.23% |
| Sep 30, 2022 | 9.22% |
| Jun 30, 2022 | 11.16% |
| Mar 31, 2022 | 8.67% |
| Dec 31, 2021 | 7.51% |
| Sep 30, 2021 | 7.90% |
| Jun 30, 2021 | 8.38% |